1.7 Acre Multi-Family Development Lot in Sarasota | Newtown Investment Opportunity

Investment Overview

An opportunity to create thoughtfully scaled housing in Sarasota’s urban core, this 1.7-acre parcel on Leonard Reid Avenue offers a versatile development site in the heart of Newtown. The property is zoned RMF-2, with a stated allowable density of up to nine units per acre. Based on the gross site area, the parcel may support approximately 15 residential units, making it well suited for consideration as a small townhome or multifamily community, subject to site planning and all applicable governmental approvals. The site is located one block east of US-301, approximately 2.5 miles from downtown Sarasota and 3 miles from Sarasota-Bradenton International Airport. It sits directly across from Dreamers Academy and approximately 2 blocks from Booker Middle School, offering convenient access and strong visibility within an established Sarasota neighborhood. Current plans for the future expansion of the Legacy Trail are expected to place the trail corridor directly behind the property, adding another compelling element to the site’s long-term potential. Beyond residential development, the parcel may also warrant consideration for a childcare or adult daycare facility through the applicable special-exception process. A Phase I Environmental Site Assessment has already been completed, providing prospective purchasers with valuable due-diligence information as they evaluate the property and their development plans. This is a well-located Sarasota infill opportunity with multiple potential development paths and proximity to major transportation routes, employment centers, education and downtown amenities. All dimensions, density calculations, permitted uses, special-exception opportunities, trail plans and development potential should be independently verified by the purchaser with the applicable governmental authorities and professional consultants.